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Nature of Operations and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2025

Accounting Policies [Abstract]

Reconciliation of Cash

Cash, cash equivalents and restricted cash reported in the Company’s balance sheet as of June 30, 2025, December 31, 2024, June 30, 2024 and December 31, 2023 were as follows:

(DOLLARS IN MILLIONS)			June 30, 2025						December 31, 2024						June 30, 2024						December 31, 2023
Current assets
Cash and cash equivalents			$	816					$	469					$	671					$	703
Cash and cash equivalents included in Assets held for sale			—						2						3						26
Restricted cash			—						—						—						6
Cash, cash equivalents and restricted cash			$	816					$	471					$	674					$	735

Schedule of Bad Debt Reserve

The following is a roll-forward of the Company’s allowances for bad debts for the six months ended June 30, 2025 and 2024.

			Six Months Ended June 30,
(DOLLARS IN MILLIONS)			2025						2024
Balance at January 1			$	26					$	52
Bad debt expense (reversals)			3						(9)
Write-offs			(5)						(15)
Foreign exchange (gains) losses			2						(1)
Balance at June 30			$	26					$	27

Schedule of Inventory, Current

The Company’s inventories consisted of the following:

(DOLLARS IN MILLIONS)			June 30, 2025						December 31, 2024
Raw materials			$	804					$	657
Work in process			396						368
Finished goods			1,171						1,108
Total			$	2,371					$	2,133

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